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• W1529785087 abstract "As the Swiss government seeks to reorganize regional bus services and put operation of lines out for public bid, benchmarking methods are needed to evaluate the bids and the requested subsidies and to adjust the minimum bids needed to win operating rights. That is done by comparing individual operators to best observed practice, but to do so accurately, it is necessary to separate out exogenous factors that could contribute to higher costs from the operators' inherent operating efficiencies. The purpose of this study is to analyze different panel data frontier models in terms of their ability to make this distinction. In the sample that is studied, Greene's true random effects model demonstrates a considerable advantage over other models in separating heterogeneous factors from innate inefficiencies. Models that do not have this advantage tend to overestimate inefficiencies by operators. The true random effects model could be valuable for setting a benchmark in regulating network industries, though care must be taken to account for cost pressures and structures unique to each industry and unaccounted for by the mechanical use of the model." @default.
• W1529785087 created "2016-06-24" @default.
• W1529785087 creator A5011784942 @default.
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• W1529785087 date "2006-01-01" @default.
• W1529785087 modified "2023-10-17" @default.
• W1529785087 title "COST EFFICIENCY IN REGIONAL BUS COMPANIES: AN APPLICATION OF ALTERNATIVE STOCHASTIC FRONTIER MODELS *" @default.
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